Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors. This left July sales 3% lower than levels recorded last year. While this is the second month where sales activity has slowed, total residential sales this month are still amongst the strongest levels recorded in our market.
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Calgary Market Insider July 2022
Sales activity in June eased relative to the past several months and with 2,842 sales, levels declined by 2% over last year’s record high. While sales activity has remained relatively strong for June levels, the decline was driven by a pullback in detached and semi-detached home sales.
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Calgary Market Insider June 2022
For the second month in a row, sales activity trended down after all-time record high sales in March. While activity in the market slowed down in May with 3,071 sales, levels are still slightly higher than last year’s record high and are far stronger than typical levels of activity recorded in May.
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Calgary Market Insider May 2022
Following an all-time record high month of sales in March, activity slowed down in April. However, with 3,401 sales, it was still a gain of 6% over last year and a record high for the month of April.
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Calgary Market Insider April 2022
For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property type as they all hit new record highs. An increase in new listings this month helped support the growth in sales activity. However, inventories have remained relatively low, ensuring the market continues to favour the seller.
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Calgary Market Insider March 2022
Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller.
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Calgary Market Insider February 2022
Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months. The tight market conditions contributed to further upward pressure on prices. The unadjusted benchmark price in January reached $472,300, a monthly gain of nearly 2% and a year-over-year gain of 12%.
Continue reading → Calgary Market Insider January 2022
Thanks to exceptionally high sales in December, 2021 was a record year for home sales. Calgary real estate sales reached 27,686 units this year, nearly 7% higher than last year and over 44% higher than the 10-year average.
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Calgary Market Insider December 2021
Driven by growth in demand for all property types, there were 2,110 sales in November, just shy of the record for the month set in 2005. “Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels have struggled to keep pace, causing tight conditions and additional price gains.”
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Calgary Market Insider November 2021
There were 2,186 sales in October, a record high for the month and over 35% higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61% higher than average activity recorded over the past five years and 42% higher than 10-year averages.
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